Sharemasterindia.com: Srei Infrastructure Finance shares rose over 4 per cent to hit an intraday high of Rs 35.75 on Tuesday, following the company's plans to raise Rs 200 crore via non-convertible debentures (NCDs) in its efforts to reduce finance costs.
NCD is a debt instrument that cannot be converted into share or equity.
Mortgage finance company Srei Infrastructure informed in a filing to the BSE on Tuesday the NCD issue will consist of 20 lakh secured, redeemable NCDs of face value of Rs 1,000 each.